Shuster Statement on the President's Debt Plan

“Without a doubt, the debt crisis is a major obstacle to our economic recovery. However, we cannot tackle the debt and promote economic growth by levying a massive tax increase on job creators.

I have long said that Washington doesn’t have a revenue problem, it has a spending problem. During his time in office, President Obama along with a Democrat controlled Congress added over $4 trillion in new spending. Now, he is proposing a debt plan that will raise $3 dollars in taxes for every $1 in spending cuts to pay for so-called debt reduction. All the while, his plan continues to avoid the real threats to America’s future: the need to control entitlement growth and the dangerous effects of his health care reform law.

This is not a serious plan. It will not tackle the debt and it essentially undermines the work of the Joint Select Committee on Deficit Reduction.”